Import prices in March

The 0.3 percent rise in import prices in March was the smallest since October 1999. The slowdown was primarily attributable to a relatively modest 0.2 percent uptick in petroleum prices in March, the smallest increase posted for this component index since it declined 0.5 percent in February 1999. Nonpetroleum import prices, which also rose 0.2 percent in March, contributed to the increase for overall imports.

Over the past 12 months, the nonpetroleum index increased 1.0 percent. In contrast, petroleum prices were up 138.3 percent for the year. The overall import price index rose 9.4 percent from March 1999 to March 2000.